Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (32313)	6/24/2010 9:56:31 PM
From: Hope Praytochange	Read Replies (2) \| Respond to of 103300

Aussie Socialism Out Posted 07:07 PM ET Australia: Prime Minister Kevin Rudd's surprise ouster by his own party Tuesday came with a teary farewell hailing his role in Australia's economy. Maybe it wasn't such a bright idea to imagine it was his golden goose. Seven months ago, nobody would have thought the well-liked socialist prime minister with less than three years in office would meet such an ignominious end, blubbering after he was thrown out by members of his own Labor Party Tuesday. "I'm proud of the fact that we kept Australia out of the global financial crisis," said Rudd through his tears. "I'm proud of the fact that had we not done so, we would had had half a million Australians out there out of work." He was replaced by his deputy Julia Gillard, who became the story of the day by becoming Australia's first woman prime minister. It was a bad fall for the man dubbed Australia's idiot Odumbama. Like the latter, the youthful Rudd initiated costly health care, home weatherization, entitlement, and global warming pork barrel projects. In the process, he blew out the Australian budget. When the time came to pay the bill, he effectively committed political suicide by calling for a 40% tax on Aussie mining companies. Those firms form the backbone of Australia's dynamic economy, accounting for half of its exports. As Rudd imagined that it was he who kept Australia out of financial crisis, the reality was it was private firms like these that created the value and jobs for Australians. When news of Rudd's tax hikes suggested a bid to expropriate companies' profits, the stock market took a beating. To pay for his own bloated government programs, Rudd claimed — as his union supporters did — that he only wanted companies to pay their "fair share." Unions themselves added to the fantasy by claiming these taxes would create jobs. Rudd echoed that, absurdly claiming the tax would be good for the economy. "It is important to pay emphasis on the independent modeling of Treasury who's put all the factors together and projects this industry will grow by 6.5% over five to 10 years," Rudd told incredulous mining executives from BHP Billiton, Rio Tinto and Fortescue last May as stocks fell. "As a result of (this 40% tax) we will see a better and more dynamic mining industry in the future." Rudd's claims were so devoid of reality or responsibility that his support dropped like a rock with the Australian public. That got him thrown out by his own Labor Party. Rudd was tossed out Thursday not because he wasn't leftist enough for them, but because parliament decided to save its own skin by getting rid of him. Gillard, who was just as responsible as he was for the overspending, backed off on the tax, and laughably tried to persuade Australians she'd be the next Margaret Thatcher. Given her radical left-wing background, that explains all that needs to be known about self-interest. In words, at least, Gillard almost sounded like a free marketer. This shows the capacity of a parliamentary system to respond to voter sentiment — even if only out of members' desire to stay in office. But the larger lesson is that Rudd actually thought Australia's growing economy was his own handiwork instead of the result of the hard work of the private sector. He also imagined that economic growth came from government spending, and whatever surplus value companies created could be better spent by the government than by companies that earned it. This ran contrary to the previous 12 years under conservative Prime Minister John Howard, under whose market-oriented policies Australia thrived. In the last 15 years, Australia's $1 trillion economy grew at a 3.6% clip, a pace nearly half again as fast as other members of the OECD. Australia's world-class mining companies had the gumption to openly fight back against this nonsense. But on their side they also had the people, who understood that their own jobs were at stake. Their willingness to fight bodes well for Australia's future, and ought to be a good example for the rest of the world to follow.

To: DuckTapeSunroof who wrote (32313)	6/24/2010 10:36:30 PM
From: John	7 Recommendations Read Replies (3) \| Respond to of 103300

People doubt the economy because they know America and Western Civilization are doomed thanks largely to 50+ years of misguided social engineering. Result? Citizens are essentially forced to live together and tolerate each other at gunpoint by the Federal government. Even the Uber-Liberal Harvard professor Robert Putnam finally saw the light while conducting research in which he thought he could prove the positive attributes of multiculturalism. Instead, what he learned mortified him. At least he had enough honor to publish the truth anyway, even though as a Liberal mouthpiece he did not like it. Read Putnam's book "Bowling Alone" to learn what happens when multiculturalism is forced upon a civilized society. It will explain a great deal of what transpires around you each day. When a devout Liberal like Putnam finally breaks down and admits the truth, one comes to realize the grave plight of America's dim future. I believe the government values multiculturalism because it serves to break down the close bonds of like-minded people in a society. It introduces mistrust among people who would otherwise truth each other and naturally bond. Mistrust and isolation among people who should naturally bond serves to strengthen the government's control over our lives, my friends. When the gravity of America's dim situation is finally reflected in equity prices, the bitter truth of America's plight will be known by all, although many will never admit it. Those in denial have been drinking the Marxism-flavored kool-aid for too long.